All Forum Posts by: Aaron Hunt

Another BP thread gone wild! Came for the multi-family info, stayed for the drama. *grabs popcorn*

In what way are you “passing real estate down to kids” if you are pulling equity?

OP, with the advice you’ve gotten on here, you’ll be light years ahead of the curve by the time you have real money to back you. Even if you choose the “education-heavy” route (bachelors, masters, advanced degrees), you’ll quickly pass the vast majority of your colleagues who didn’t go to higher education (in science & tech fields). I was similar to you, and fascinated by money and investing. I convinced myself I was “analyzing” stocks during the .com bubble while I was in elementary and middle school. Started off making my Dad money and then eventually took over my own UTMA stock account and learned from that throughout high school. Got to college and started a drop-shipping eBay business. That gave me my first $10-20k to play with. Got to med school, into option trading, and then quickly realized nothing would make as much guaranteed capital for me as my career would. My two cents of advice is prioritize education, preferably in a useful field that can make you a high W2 earner if all else fails - engineering, medicine, etc. You won’t go wrong and you’ll make a lot of great friends/colleagues along the way. Money will always follow.

I got nothing to offer because I don’t even know where to begin with this one... “Listed” at $209k, agent actually replied to lowball of $120k, yet house is actually for auction...what could possibly go wrong? *grabs popcorn*

BMW M3

This was inevitable. I have a similar story which caused me to use Google Voice during the rental listing process, and also set up social media blocks early on. My Dad is a physician and also a landlord of several nicer condos in a large metro area. He self-manages them but after being burned once, he has been strict with his rental criteria so tenants have typically been highly educated, and responsible. Rarely if ever do we get a call throughout the year from them. However, we had one highly qualified tenant who happened to be an alcoholic. He would get drunk and threaten his neighbors. During our process of getting him kicked out, the victim of his threats started to slander my Dad on physician rating websites, saying “Dr. ________ rents his places to low life’s who threaten to kill people”, etc. Had no business being on there, obviously had no relevance to his ability as a medical provider, and the issue was being handled in the appropriate manner but it still goes on some “social media/rating” site that he has no control over but patients may look at. Dangerous world...

I live in Vegas. Bought 2 condos here in past 12 months. Doing extremely well on both. Combination of factors on why this market is killing it. Investors and locals here don’t want competition. Theres way too many cash deals coming in. I don’t frankly care cause I’m moving out of this city soon for my career so I’ll be up front. #1 Top place to safely own/live/buy in Las Vegas: Summerlin West or Summerlin South. Anyone who tells you otherwise is straight up lying to you, or just doesn’t own property there. #2 Everywhere else in LV is second fiddle. #3 Football team, Soccer team, Baseball team, etc...little overall impact. #4 Sub $300k properties in Summerlin are nearly gone. #5 Zero multifamily homes in areas really worth buying. None at all in Summerlin. With just 5% down, I was able to house-hack two properties and still cash-flow due to the ridiculous demand in Summerlin. I didn’t have to look hard. Many tenants/LV residents got demolished during the economic downturn (I see their rental apps and many have had foreclosures) but theres a huge demand and pull for healthcare professionals in this state. We are 48th in the nation for healthcare providers but 2016 changed that heavily. UNLV has a massive new med school and Sunrise Health System (mainly MountainView Hospital & Southern Hills) has about 120 medical/surgical residents now working in Las Vegas. About 40-50 new residents and their families will be moving here yearly to stick around for training anywhere from 3-5 years at a stretch. These are all future physicians many of whom will be buying upward into those $500+ homes which don’t necessarily exist. If some developer is really smart, they can create a luxury garden rise apt complex catering to these residents at MountainView Hospital for years to come. It’s a growing academic medical center with zero high-end housing nearby. Happy to answer all questions!

*grabs popcorn* This is a fun thread to read. OP having so much rear-end hurt from minor criticism of basic plan which homeowners/investors have done for decades. Easy to invest/house-hack off $10k. Did it on our first home last year. Property went up $40k in value since. What I didn’t do, was sit here and waste time posting about it or arguing with others about it.

Make offer asap. Owner will approve if reasonable (or sometimes will accept whatever comes their way based on level of need/market demand). Pray bank will not sit for months to approve. Close like any other place.

+1 for Cozy.co